| FORUMS > Hull KR > Rovers 2008 Accounts |
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[i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
Moderator
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| Quote: Basil Fawlty "As I've said before the only people that seem to 'stress' about Rovers accounts are FC fans!'"
I'm far from stressed about them. Amused, possibly.
Quote: Basil Fawlty "If we go tits up then so be it but we've had fun on the way.'"
Hi Neil.
Quote: Basil Fawlty "Maybe having a 1.6 million bail out package was the good business start FC needed as apposed to the CVA Rovers had.'"
It wasn't £1.6m, but facts don't seem to trouble you unduly.
Quote: Basil Fawlty "Does anyone know if the Rugby League still own shares at Hull?'"
Yes - anyone who was paying attention several years ago. They don't - all bought back by our board, thanks. |
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| Quote: Kosh "
It wasn't £1.6m, but facts don't seem to trouble you unduly.
'"
Think your right £1m from rfl & £900k from council for boulevard iirc |
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Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: hkrovers "Think your right £1m from rfl & £900k from council for boulevard iirc'"
I think it was £1.2m from the RFL and £750k from HCC. |
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| Club Coach | 3469 | |
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[img:2w017k0q]http://img442.imageshack.us/img442/9237/hullfcsiglo7.gif[/img:2w017k0q]:14584.jpg |
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| Quote: Basil Fawlty "As I've said before the only people that seem to 'stress' about Rovers accounts are FC fans!
If we go tits up then so be it but we've had fun on the way.
Perhaps it is the fun that we have had in the recent derbys that have hurt many FC fans more than we know!
Maybe having a 1.6 million bail out package was the good business start FC needed as apposed to the CVA Rovers had.
Does anyone know if the Rugby League still own shares at Hull?
Roll on the season when FC fans can focus on pitch-side matters! ![]()
So winning the majority of the derbies over the last 2 years is worth going under for? You sad man. Our domination over the years must have really got to you bad. 
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| Club Owner | 2874 | No
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| Feb 2004 | 21 years | |
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| Quote: Mrs Barista "Level of debt wasn't. In theory it could be approaching £4m by end 2009 if it's currently £3.2m plus £450k loss in 2009 and the new turnstile investment. ![]()
The level of loss on the P&L account will have absolutely no impact on the level of current liabilities. It will simply transfer to the P&L Reserve Account on the balance sheet. If HKR have made a loss for 2009 then it does not automatically follow that their current liabilities have increased. In the P&L account losses how much of it was non-cash items which don't actually cost the club anything such as depreciation ?
The turnstile investment (whatever that is) will be capitalised on the balance sheet as a fixed asset and again will have no impact on the P&L account or the level of current liabilities. It is purely a balance sheet item - i.e. reduce cash at bank, increase fixed assets.
Current liabilities can take many forms and it isn't always a case of actually owing any money. For example, in a 3 year sponsorship deal if the sponsor paid the whole amount up front then you'd already have the cash but you'd have to include a liability on your balance sheet which would reduce pro-rata over the length of the deal - this would be in case you went bust during that timeframe and could not meet your part of the agreement in which case the sponsor would be due money back. There may also be accruals/provisions for potential liabilities which have not yet arisen and which may not materialise.
The bottom line being that from an abbreviated set of accounts without proper disclosure notes it is impossible to ascertain the things that make up the balances and therefore everyone is acting from a position of pure speculation and assumption.
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| Quote: Gordon Gekko "I think it was £1.2m from the RFL and £750k from HCC.'"
Not sure of rfl money but definitely think it was £900k for the boulevard which they said hull would have to pay back if they ever went back |
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[url:1yligwxm]https://freesolicitoradvice.co.uk/[/url:1yligwxm]:40240.jpg |
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'when my life is over, the thing which will have given me greatest pride is that I was first to plunge into the sea, swimming freely underwater without any connection to the terrestrial world'
Yves Le Prieur, the real inventor of the aqualung: |
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| Quote: Gordon Gekko "I think it was £1.2m from the RFL and £750k from HCC.'"
Whatever the figures involved, it was a leg up which we never had so it's hardly suprising we owe a few quid while getting established is it. |
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| Player Coach | 29796 | No
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| Jul 2005 | 19 years | |
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| Quote: Derwent "The level of loss on the P&L account will have absolutely no impact on the level of current liabilities. It will simply transfer to the P&L Reserve Account on the balance sheet. If HKR have made a loss for 2009 then it does not automatically follow that their current liabilities have increased. In the P&L account losses how much of it was non-cash items which don't actually cost the club anything such as depreciation ?.'"
There are 2 parts to a balance sheet, net assets and shareholders funds, which have to balance. You don't just adjust the P&L reserves (in the shareholders funds section) with no impact on net assets.
Take Rovers 2008 accounts. Loss of 447,462, negative movement on P&L Reserves, plus a £250 increase in Share capital
The turnstile investment (whatever that is) will be capitalised on the balance sheet as a fixed asset and again will have no impact on the P&L account or the level of current liabilities. It is purely a balance sheet item - i.e. reduce cash at bank, increase fixed assets.'"
Rovers have only £12k cash. Therefore if they are buying say £100k of turnstiles, the double entry is Debit Fixed Assets, Credit - guess what -Creditors. Which are in current liabilities.
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| Player Coach | 5659 | |
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[quote="Philip Larkin":2lhqd089]
There ain’t no music
East side of this city
That’s mellow like mine is,
That’s mellow like mine.
[/quote:2lhqd089]:d7dc4b20b2c2dd7b76ac6eac29d5604e_32444.jpg |
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| Quote: Basil Fawlty "As I suspected - the only people who are worried about Rovers accounts are FC fans hoping something negative happens!
As I keep saying if Rovers go bang then so be it - we have enjoyed the journey - and until that happens lets go about our onfield presence in the same manner - when super league returns our FC fans will have other things to worry about ![]()
At least you are resigned to the inevitable and admit to making the most of the roller-coast while it happened.
It didn't need to have been like that, though. In the words of The Specials "You've done too much, much too young" (in your Super League incarnation). Grudge's greed and power trip could curtail genuine Rovers' fans enjoyment of top level RL for the foreseeable after next season, perhaps for ever.
Great legacy, Mr Hudgell.
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| Player Coach | 1437 | No
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| Jun 2009 | 15 years | |
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| Dec 2014 | Mar 2014 | LINK |
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Standing up to the forum bully.
It must be working, he doesn't like me...i'm devastated: |
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Basil :
Or journey has only just begun. We still have many more derbies to be won, many more place offs to reach and leave many more hull fans even more bitter.
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